Rush on to bring down trade barriers – ASEAN member states have urged one another to eliminate barriers on some sensitive products after almost 100% of goods already have zero tariffs, in order to encourage more trade within the region, according to the Thai Commerce Ministry’s Trade Negotiations Department. (Bangkok Post, 26/06/14)

Permanent secretary of Finance proposing a ‘Super Board’ to govern state enterprises, in accordance with NCPO policies. The Super Board itself will have the same structure as the BoI but with members who are qualified to govern state enterprises. (Post Today, 26/06/14)

Ministry of Finances sees some signs of recovery with better consumption and improving investment spending. KTB said that it is still concern by some US and EU exporters, while KBANK said that it hopes the economy recovers next year as a result of the interim government. (Than Setaket, 25/06/14)

Household debt up to 80% in just 3-4 years — The governor of the central bank yesterday said that household debt had risen to 80% of GDP over just the past 3-4 years. The largest portion of the debt was incurred by low income families, who have insufficient income to repay their debts. (Daily News, 24/06/14)

EU suspends mutual visits – The European Union yesterday reduced ties with Thailand by suspending mutual official visits and refusing to sign a partnership and cooperation accord with the country until a democratically elected government is in place. (The Nation, 24/06/14)

Outer ring road revived — Expressway Authority of Thailand (EXAT) has dusted off its old outer ring road expansion plan to submit to NCPO with total projects valuing Bt53bn, with over 4,250 rai of land expropriated. If approved promptly, construction could start in 2017. (Khom Chad Leuk, 23/06/14)

EXAT is studying a nationwide toll way system to improve logistical capabilities, as a platform to achieve ASEAN dominance. (Thai Post, 23/06/14)

May exports mark drop for third consecutive month – May saw a drop in exports for the third consecutive month by 2.14% year-on-year to US$19.4bn, bringing down the value of the first five months by 1.22% to US$$92.9bn. (Bangkok Post, 27/06/14)

UTCC corruption index jumped from 39 to 49 as NCPO management cuts down bribes. The university said the average bribe level decrease from 25-35% to 15-25%, contributing to Bt10bn GDP boost. (ASTV Manager, 27/06/14)

Ministry of Finance says May indicators started to pick up, as consumption and confidence improves. The part of recovery that still worries the Ministry is exports. (Kom Chad Luek, 27/06/14)

NCPO will meet with related parties over the recent change in the US labour blacklist, as Thailand was demoted to Tier 3, lowest level. (Post Today, 27/06/14)

Flash PMI —The seasonally adjusted Markit Flash U.S. Services Purchasing Managers Index hit 61.2, up from 58.1 in May, indicating the fastest rate of growth since the survey began in October 2009, Markit said. (Xinhua, 25/06/14)

The U.S. economy contracted at an annual rate of 2.9% in the first quarter, the worst performance in five years, after a previously reported 1% drop, according to a report released by the Commerce Department Wednesday. (Xinhua, 25/06/14)

U.S. durable goods orders drop 1.0% – A pullback in military spending dragged down overall orders for big-ticket items from U.S. factories in May, but underlying readings showed business spending picking up from its winter slump. (WSJ, 25/06/14)

U.S. commercial crude oil inventories increased by 1.7 million barrels from the previous week to 388.1 million barrels. (EIA, 25/06/14)

US: Sales of U.S. new single-family houses in May surged 18.6% to a seasonally adjusted annual rate of 504,000 from the prior month, according to the Commerce Department, easily surpassing market consensus of 441,000.

Japan: Abe’s cabinet endorses ambitious growth strategy – Japanese Prime Minister Shinzo Abe’s cabinet on Tuesday endorsed the new package of economic reforms aimed at boosting the earning power of corporations, deregulating deflation-hampered sectors and implementing structural changes to address the nation’s shrinking population. (Xinhua, 24/06/14)

US: PMI: Financial data firm Markit said the U.S. manufacturing sector posted a robust and accelerated improvement in June. The seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index (PMI) registered 57.5 in June, up from 56.4 in May, which indicated the strongest upturn in overall business conditions since May 2010, Markit reported. (Xinhua, 24/06/14)

Existing-home sales heated up in May, up 4.9% to a seasonally adjusted annual rate of 4.89mn, marking the highest monthly percentage gain since August 2011, according to the National Association of Realtors. The latest housing figure topped market expectations and indicated that sales activity is rebounding after a lackluster first quarter. (Xinhua, 24/06/14)

Eurozone Composite PMI falls to six-month low in June: Markit – The flash Eurozone Purchasing Managers Index (PMI) Composite Output Index fell to a six-month low of 52.8 in June, down from 53.5 in May, marking its weakest reading since December last year, said financial information services provider Markit on Monday. (Xinhua, 23/04/14)

Japan’s May supermarket sales fall for 2nd month after tax hike – Japan’s supermarket sales fell 2.2% in May from a year earlier on a same-store basis, declining for two straight months as the April 1 consumption tax hike dented consumer sentiment, an industry body said Monday. (Kyodo, 23/06/14)

China to set up emergency coal reserve in 2014, NDRC — China’s macro economic planner National Development and Reform Commission (NDRC) recently issue a notice on execution of emergency coal reserve tasks, according to media reports. NDRC require relevant companies to reserve 6.7 million tonnes of coal in 2014. (Xinhua, 22/06/14)

US: Initial claims — In the week ending June 21, the advance figure for seasonally adjusted initial claims was 312,000, a decrease of 2,000 from the previous week’s revised level, said the Labor Department. The reading was slightly above market consensus. Meanwhile, the four-week moving average, which helps smooth out week-to-week volatility, was 314,250, an increase of 2,000 from the previous week’s revised average, the department added.

U.S. personal consumption expenditures increased 0.2% in May, while personal income rose 0.4%, the Commerce Department reported. Economists had expected 0.4% gains for both figures. (Xinhua, 27/06/14)

German GDP expected to grow strongly in next two years: think tank — The gross domestic product (GDP) of Germany is expected go grow strongly by 2% this year and 2.2% next year, German think tank Ifo economic institute said Thursday. (Xinhua, 26/06/14)

French consumer confidence edges higher: INSEE – A monthly survey of households resulted in a reading of 86 points, up by just a point on the level in May but still well below its long-term average of 100 points, the national statistics institute INSEE said. (BRecorder, 26/06/14)